In this chapter we review research that rejects the widely held tenet that renewable energy promotion policies have no effect on carbon emissions if the electricity sector is subject to a cap-and-trade scheme. Specifically, it shows that such policies generally do have a net impact on carbon...

We present an integrated framework to understand the emissions impact of unilateral overlapping policies within a carbon-pricing system. "Internal carbon leakage" captures emissions displacement within the system (e.g., due to greater product imports from a neighbouring country). The waterbed...

Beliefs about future allowance prices in cap-and-trade schemes are heterogeneous and not necessarily fully informed. This paper shows how carbon-market design affects the impact of noise traders on equilibrium prices. Price-based flexibility mechanisms encourage arbitrage by rational traders and...

Am 20. September hat die Bundesregierung die Einführung eines nationalen CO2 -Preises beschlossen. Sie hat sich dabei für eine Preisregulierung entschieden, die ab dem Jahr 2026 weitgehend durch eine Mengenregulierung ersetzt wird. Der vorliegende Artikel schlägt vor, Preis- und Mengenziel...